KONJUNGATE is a cryptocurrency designed to change the way of art funding. It is based on the cyber novel MACHFELD written in 1999 by Michael Mastrototaro. Strangely, the main character of the book is called Nakamoto and thus resembles the pseudonym of the BITCOIN inventor Satoshi Nakamoto. What a coincidence, right? Anyway.
In his cyber novel, Mastrototaro describes the mining of KONJUNGATE 9 years before Bitcoin appears on the cryptocurrency horizon.
Now 20 years after publishing the novel online, KONJUNGATE appears as a Media Art project aiming to decentralize the funding of international contemporary artists and art organisations and to make a strong artistic statement in times of budget cuts.